Beijer Tech grows in Norway
Beijer Tech has through its Norwegian subsidiary Beijer AS signed an agreement to acquire the shares in Norspray AS. Norspray currently generates annual revenues of approximately MNOK 50 and has 15 employees. Ownership is scheduled for transfer in September. According to the agreement, 60 percent of the company will be acquired immediately and the remaining 40 percent after year- end 2015. Norspray’s current management team and owner will remain active in the company.
The acquisition will provide the Beijer Tech Group with a long sought-after break into the expansive offshore market. In recent years, Norspray has built up a very strong position on the Norwegian west coast, with operations established in Stavanger, Bergen and Stord, as well as Porsgrunn in Eastern Norway.
Norspray sells and leases equipment for compressed air blast cleaning, grinding, fire-protection coating and painting. The company specializes in dual-component painting, but also sells inspection, protective and cleaning equipment. As a complement to its sales and rental operations, Norspray offers maintenance and service of pumps and machines. The company’s customers include surface- treatment contractors in the oil and gas industries, as well as customers in the shipbuilding and engineering sectors.
“By getting a strong owner, we ensure opportunities for continued growth and development of Norspray”, says current co-owner and CEO Thor Hauge who will continue as CEO of the company.
The acquisition complements the Group’s product program in the area of surface treatment and will enable a broader and improved offering to current and future customers.
“It is with great pleasure that I can conclude that our growing trading platform has taken a major step into the strong industrial market on the Norwegian west coast”, says Beijer Tech's CEO Peter Kollert.